Potassic fertilizers market in Spain

Earlier Report Observations

The market for potassic fertilizers in Spain grew in value from $157.2 million in 2018 to $189.7 million in 2021. During this period, farmers' purchasing decisions were influenced by crop prices and product formulation, which affected consumption. In 2019, potassic fertilizer consumption fell by 15% due to adjustments in sown areas and crop quotations, but the market recovered by 2021.

A sharp turnaround occurred in 2022 when the war in Ukraine and reliance on the Russian market led to a 73.5% surge in potassic fertilizer prices. This, combined with the energy crisis and high gas costs, caused fertilizer sales to drop by 25.5% and potassic fertilizer consumption to fall by 43%. As a result, the market value declined to $165.1 million in 2023.

By 2024, volume sales of fertilizers rebounded by 17.3%, exceeding four million metric tons, although the market value continued to decrease, reaching $151.5 million. Production shifted toward simple nitrogen fertilizers, while potassic fertilizers maintained significant consumption in regions such as Andalusia.

Production potassic fertilizers in Spain

In value, 2017-2020, M $ US

In 2020, Spain's potassic fertilizer production was valued at 187.6 million US dollars, representing a 15.7% increase from 2019. However, looking at the broader period from 2017 to 2020, production actually declined by 26.8%, with an average annual decrease of 9.9%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Annual dynamics of production in Spain in kind, 2017-2020, K t

Exports potassic fertilizers from Spain

Exports in kind, K t

Spain's exports of potassic fertilizers declined for the second consecutive year in 2020, totaling 411.7 thousand tons, which marked a significant 35.6% drop compared to the previous year. Over the 2017-2020 period, exports decreased by 40.6%, with an average annual decline of 15.9%. The peak export volume was recorded in 2018 at 751.0 thousand tons, which also saw the largest annual increase of 8.3%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K t

From 2017 to 2020, France, the Netherlands, and the United Kingdom were the top destinations for Spain's potassic fertilizer exports in volume terms. France accounted for 22.5% of exports, the Netherlands for 22.3%, and the United Kingdom for 19.1%, together making up 63.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

Spain's potassic fertilizer exports in value terms also declined for the second consecutive year in 2020, reaching 125.0 million US dollars, a sharp 39.7% decrease year-over-year. Over the 2017-2020 period, export value fell by 32.9%, with an average annual decline of 12.5%. The highest value was recorded in 2018 at 227.9 million US dollars, which also experienced the largest annual increase of 22.3%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

In value terms from 2017 to 2020, France, the Netherlands, and the United Kingdom formed the main group of destinations for Spain's potassic fertilizer exports. France represented 24.5% of export value, the Netherlands 20.1%, and the United Kingdom 18.1%, collectively accounting for 62.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports potassic fertilizers to Spain

Imports in kind, K t

Spain's imports of potassic fertilizers increased for the third consecutive year in 2020, totaling 305.3 thousand tons, which reflected a gradual 8.3% rise compared to the previous year. Between 2017 and 2020, imports grew by 16.8%, equating to an average annual increase of 5.3%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K t

From 2017 to 2020, the leading sources for Spain's potassic fertilizer imports in volume terms were Israel, Jordan, and Chile. Israel supplied 26.6% of imports, Jordan 14.8%, and Chile 13.3%, together accounting for 54.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's potassic fertilizer imports in value terms increased for the second consecutive year in 2020, amounting to 99.3 million US dollars, up 5.4% from 2019. Over the 2017-2020 period, import value rose by 11.6%, with an average annual growth rate of 3.7%. The lowest value was recorded in 2018 at 88.9 million US dollars, which saw a slight decline. The largest annual increase occurred in 2019 at 5.9%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

The structure of Spain's potassic fertilizer imports in value terms from 2017 to 2020 shows a diversified set of partners. Israel accounted for 22.4% of import value, Belgium for 13.9%, and Jordan for 12.5%, together representing 48.8% of total flows. The remaining 51.2% was distributed among numerous smaller markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020